The USDA loan is, as you may have guessed, offered by the United States Department of Agriculture. Also referred to as the “Beef Loan”, this program features 100% financing and is available to qualifying buyers in primarily rural communities. Even if you’re not planning to live in the country, this shouldn’t scare you off. In many cases these loans are available in areas that you might not normally think of as rural communities. First time home buyers who do not have sufficient funds to come up with a down payment for an FHA or Conventional loan should look into this.  For example, Battle Ground, Ridgefield, La Center, and Washougal all contain some homes that qualify for USDA, and these locations are just a stone’s throw away from Vancouver!

The USDA Loan Features:

  • 100% Financing – eliminates the need for a down payment!
  • Great program, especially if you are a first time home buyer
  • Location specific — typically limited to outlying communities
  • Maximum loan limits and income limits apply – the latter based on size of household.
  • Well suited for first time home buyers in Ridgefield, Battle Ground, La Center and Washougal